Terms of Service

1. Acceptance of Terms

These Terms of Service (“Terms”) constitute a legally binding agreement between you (“User”, “you”, or “your”) and Nohva Limited(“Nohva”, “we”, “us”, or “our”), the company incorporated in the Federal Republic of Nigeria that operates the Kolect platform.

By accessing or using Kolect, including our mobile application, website, and any related services (collectively, the “Platform”), you confirm that you have read, understood, and agree to be bound by these Terms and our Privacy Policy, which is incorporated herein by reference.

If you are using Kolect on behalf of an organization, you represent that you have authority to bind that organization to these Terms.

2. Definitions

For the purposes of these Terms:

• “Platform” means the Kolect mobile application, website, APIs, and all related software and services operated by Nohva.
• “Admin” means a User who creates and manages a Group on the Platform.
• “Member” means a User who has been invited to and has joined a Group.
• “Group” means a payment collection unit created on the Platform, which may be a Shared Bill, Ajo (rotating savings), or Bill Split group.
• “Shared Bill” means a recurring group expense collection where a fixed amount is collected from each Member per cycle.
• “Ajo” means a rotating savings group where Members contribute a fixed amount per cycle and the pooled funds are disbursed to one Member per cycle according to a predetermined rotation.
• “Bill Split” means a one-time expense collection where a minimum contribution is set per Member for a specific shared cost.
• “IOU” means a one-to-one personal loan record between a Lender and a Borrower, tracked on the Platform with a chosen repayment plan and optional interest. IOUs are not Groups; they involve only two Users.
• “Lender” and “Borrower” mean the two parties to an IOU, where the Lender is owed money and the Borrower owes it.
• “Transaction” means any payment made or received through the Platform.
• “Paystack” means Paystack Payments Limited, our licensed third-party payment processing partner.
• “Platform Fee” means the service charge applied by Nohva on Transactions, which is added on top of the contribution amount and borne by the paying Member.
• “KYC” means Know Your Customer verification procedures required under applicable Nigerian law.
• “CBN” means the Central Bank of Nigeria.
• “FCCPC” means the Federal Competition and Consumer Protection Commission.
• “NDPA” means the Nigeria Data Protection Act 2023.

3. Eligibility

To use the Platform, you must:

• Be at least 18 years of age;
• Be a resident of or be transacting within the Federal Republic of Nigeria;
• Have the legal capacity to enter into binding contracts under Nigerian law;
• Possess a valid Nigerian bank account or payment instrument compatible with Paystack;
• Not be prohibited from using financial services under any applicable law, regulation, or court order; and
• Not be included on any sanctions list maintained by any Nigerian or international regulatory authority.

We reserve the right to verify your eligibility at any time and to suspend or terminate your account if we have reason to believe you do not meet these requirements.

4. Account Registration

4.1 Creating an Account

You must create an account to use the Platform. You agree to provide accurate, current, and complete information during registration and to keep your account information updated at all times. You are responsible for maintaining the confidentiality of your login credentials and for all activities that occur under your account.

4.2 Identity Verification

In compliance with the CBN's Know Your Customer requirements and applicable anti-money laundering regulations, we may require you to verify your identity by providing your Bank Verification Number (BVN), National Identification Number (NIN), government-issued identification, or other documentation we reasonably request. Failure to complete identity verification may limit your access to certain features.

4.3 Account Security

You are solely responsible for maintaining the security of your account and must immediately notify us at hello@getkolect.com if you suspect unauthorized access. We shall not be liable for any loss arising from unauthorized use of your account where such use resulted from your failure to maintain adequate security.

4.4 One Account Per Person

Each individual may hold only one personal account. Creating multiple accounts to circumvent any limitation, restriction, or suspension is a breach of these Terms and may result in permanent banning from the Platform.

5. Our Services

5.1 Platform Role

Kolect is a technology platform that facilitates the collection and distribution of money between private individuals within a Group. Nohva is not a bank, deposit-taking institution, investment company, or financial adviser. We do not hold, custody, or manage your funds on your behalf. All payments are processed through Paystack, a CBN-licensed payment service provider.

5.2 Shared Bills

For Shared Bill groups, the Admin sets a fixed contribution amount and a collection cycle. Members are expected to pay the set amount each cycle. The Platform tracks contributions and sends automated reminders. The Admin is responsible for the appropriate use of collected funds in accordance with the group's stated purpose.

5.3 Ajo (Rotating Savings)

For Ajo groups, contributions are collected from all Members each cycle and disbursed directly to the designated cycle recipient via bank transfer. The rotation order is set by the Admin and recorded on the Platform. Nohva does not guarantee the behaviour of any Member, and we are not liable for any Member's failure to contribute. Admins must ensure Members are persons they know and trust before creating an Ajo group.

5.4 Bill Split

Bill Split allows Groups to collect a one-time shared expense. A minimum contribution amount is set; Members may contribute more than the minimum at their discretion. Only Bill Split groups support above-minimum payments. The Admin receives the total collected amount (less applicable fees) and is solely responsible for applying those funds to the stated shared expense.

5.5 IOU and Personal Loan Tracking

The Platform allows two Users to record a one-to-one IOU between a Lender and a Borrower. The Lender selects a repayment plan (such as fixed instalments, a single lump sum, or flexible payments), and may optionally apply interest as a flat amount or percentage. The Platform tracks each repayment, sends reminders, and shows a runway view of outstanding balance.

IOUs are private agreements between the two Users involved. Nohva is not a party to any IOU, does not lend money, does not guarantee repayment, and does not enforce collection. The Platform serves only as a record-keeping and reminder tool. Users enter into IOUs at their own risk and are solely responsible for the underlying loan, any tax or legal consequences, and any dispute that may arise between them.

5.6 Service Availability

We strive to maintain continuous service but do not guarantee uninterrupted availability. The Platform may be subject to downtime for maintenance, upgrades, or circumstances beyond our control. We will make reasonable efforts to notify users in advance of planned maintenance.

6. Payments & Fees

6.1 Platform Fees

Kolect charges a Platform Fee on each Transaction. The current fee schedule is displayed within the application at the point of payment. Platform Fees are always added on top of the contribution amount. They are borne by the paying Member and are never deducted from the amount received by the Admin or the Ajo cycle recipient.

6.2 Fee Changes

We reserve the right to modify our fee structure at any time. We will provide not less than 14 days' notice of any fee changes via in-app notification and/or email. Continued use of the Platform after the effective date of a fee change constitutes acceptance of the new fees.

6.3 Refunds

All Transactions are final once processed. Refunds are not automatically available. Where a Transaction is made in error, you must contact us at hello@getkolect.com within 24 hours of the Transaction. We will investigate and, where appropriate, facilitate a resolution at our sole discretion. Nohva does not guarantee the recovery of funds in any circumstance.

6.4 Taxes

You are solely responsible for determining and paying any taxes applicable to your use of the Platform or to funds you receive through the Platform.

6.5 Failed Transactions

Where a payment fails due to insufficient funds, bank declines, or any other reason, you remain liable for your contribution obligation to your Group. Nohva is not responsible for any consequences arising from failed payments, including removal from a Group by an Admin.

7. Paystack Integration

7.1 Paystack's Role

When you make a payment on Kolect, your payment information is transmitted securely to and processed by Paystack. Nohva does not store your card details or bank account credentials. All card data is encrypted and handled in accordance with Payment Card Industry Data Security Standards (PCI DSS) by Paystack.

7.2 Paystack Terms

Your use of payment services is also governed by Paystack's Terms and Conditions and Paystack's Privacy Policy. By using the Platform, you agree to be bound by Paystack's terms as they apply to end users.

7.3 Payment Data

Paystack may collect and process personal and financial data as part of the payment process. Such data is subject to Paystack's privacy policy. Nohva has no access to your raw card or bank account details.

7.4 Payment Disputes

Any dispute relating specifically to payment processing, card charges, or bank transfers should be directed to both Nohva Support and Paystack. Nohva will cooperate with Paystack in resolving any such disputes but cannot guarantee outcomes determined by Paystack or your card issuer.

7.5 Supported Payment Methods

Payment methods available on the Platform are determined by Paystack and may include debit cards, bank transfers, USSD, and other methods supported by Paystack at any given time.

8. User Conduct

You agree to use the Platform only for lawful purposes and in accordance with these Terms. You must:

• Provide accurate information in all Group descriptions, contribution amounts, and purposes;
• Honour all contribution commitments you make as a Member of a Group;
• Use funds collected through the Platform only for the purpose stated to Group Members;
• Not impersonate any person or misrepresent your affiliation with any person or organization;
• Treat other Users with respect and not engage in harassment, intimidation, or abusive conduct; and
• Notify us promptly if you become aware of any suspicious or fraudulent activity on the Platform.

9. Group Responsibilities

9.1 Admin Responsibilities

As a Group Admin, you are solely responsible for: the accuracy of all Group details; ensuring all Members have consented to participate; the appropriate application of all funds collected to the Group's stated purpose; managing disputes among Members; complying with all applicable laws; and for Ajo groups, ensuring the rotation schedule is communicated clearly and payouts are made only to the designated cycle recipient.

9.2 Member Responsibilities

As a Group Member, you are responsible for paying your contribution on time; reviewing Group terms before joining; and understanding that Nohva does not mediate or adjudicate disputes between Members and Admins.

9.3 Nohva's Limited Role

Nohva provides the technology infrastructure for Groups but is not a party to the agreement between Members and Admins. We are not responsible for any Admin's failure to apply collected funds appropriately, any Member's failure to contribute, or any dispute arising from the Group's activities.

10. Prohibited Activities

You may not use the Platform to:

• Collect funds for illegal, fraudulent, deceptive, or unauthorized purposes;
• Conduct or facilitate money laundering, terrorism financing, or any activity prohibited under the Money Laundering (Prevention and Prohibition) Act 2022;
• Collect funds under false pretences or misrepresent the purpose of a Group;
• Run pyramid schemes, Ponzi schemes, or any scheme that involves payment of returns to existing participants from contributions of new participants;
• Process payments for gambling, adult content, arms, illegal substances, or any other restricted category;
• Circumvent, disable, or interfere with security features of the Platform; or
• Attempt to gain unauthorized access to any account, system, or network connected to the Platform.

11. Intellectual Property

All content on the Platform, including the Kolect name, logo, design, software, source code, text, and user interface, is owned by or licensed to Nohva Limited and is protected under Nigerian and international intellectual property law. You are granted a limited, non-exclusive, non-transferable, revocable licence to access and use the Platform solely for its intended purpose. You may not reproduce, distribute, modify, or commercially exploit any part of the Platform without our prior written consent.

12. Disclaimers

The Platform is provided on an “as is” and “as available” basis without warranties of any kind. To the fullest extent permitted by applicable Nigerian law, Nohva disclaims all implied warranties, including merchantability, fitness for a particular purpose, and non-infringement. Nothing in these Terms excludes any liability that cannot be excluded under the Federal Competition and Consumer Protection Act 2018.

13. Limitation of Liability

To the maximum extent permitted by applicable law, Nohva, its directors, officers, and employees shall not be liable for: any indirect, incidental, special, or consequential damages; loss of profits, data, or goodwill; losses arising from the conduct of any Admin or Member; losses arising from unauthorized account access due to your failure to maintain security; or losses arising from the actions of Paystack or any other third party.

Where liability cannot be excluded, our total aggregate liability to you shall not exceed the total Platform Fees paid by you to Nohva in the three months immediately preceding the claim.

14. Indemnification

You agree to indemnify and hold harmless Nohva Limited and its directors, officers, and employees from and against any claims, liabilities, damages, costs, and expenses (including reasonable legal fees) arising out of or in connection with: your use of the Platform; your breach of these Terms or any applicable law; any Group you create or participate in; or any third-party claim arising from content you submit to the Platform.

15. Termination

15.1 By You

You may close your account at any time by contacting us at hello@getkolect.com. Account closure does not relieve you of any outstanding payment obligations to a Group of which you are a Member.

15.2 By Us

We may suspend or permanently terminate your account if we reasonably believe you have breached any provision of these Terms, engaged in fraudulent or illegal activity, posed a risk to the Platform or other Users, or failed to respond satisfactorily to a KYC or compliance request.

15.3 Effect of Termination

On termination, your right to use the Platform ceases immediately. We may retain your data in accordance with our legal obligations. Any outstanding Platform Fees due at the time of termination remain payable.

16. Dispute Resolution

16.1 Informal Resolution

Before initiating formal proceedings, you agree to contact us at hello@getkolect.com with a written description of your complaint. We will make good-faith efforts to resolve the dispute within 30 days.

16.2 Consumer Complaints

You retain the right to lodge a complaint with the FCCPC or any other relevant Nigerian regulatory authority at any time.

16.3 Arbitration

If informal resolution fails, any dispute shall be referred to and finally resolved by arbitration in accordance with the Arbitration and Mediation Act 2023 of Nigeria. The seat of arbitration shall be Lagos, Nigeria. The language shall be English. The tribunal shall consist of a sole arbitrator agreed upon by the parties.

16.4 Injunctive Relief

Nothing in this clause prevents either party from seeking urgent injunctive or other equitable relief from a court of competent jurisdiction where necessary to prevent irreparable harm.

17. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Subject to the arbitration clause above, you irrevocably submit to the exclusive jurisdiction of the courts of the State of Lagos for any matter not referred to arbitration.

18. Changes to These Terms

We may revise these Terms from time to time. We will notify you of material changes at least 14 days in advance via in-app notification and/or email. Continued use of the Platform after the effective date constitutes acceptance of the updated Terms.

19. Contact Us

We aim to respond to all legal enquiries within 5 business days.